Budget focuses on infrastructure and also pays heed to inflation
The Union Budget of 2014 maintained the government’s commitment to fiscal consolidation by sticking to a fiscal deficit target of 4.1 percent of the gross domestic product or GDP. The current year’s target does not only express the commitment to fiscal prudence but also shows the road map to reach the fiscal deficit of 3 percent of Gross Domestic Product by FY17.
The Budget of 2014-15 can be looked upon as an exhibition of the government’s view to take India back to a path of high, inclusive and sustainable growth by addressing several key issues like infrastructure growth, investment in skill development and growth for many other segments of society and states, and instability of prices in the field of agriculture.
Most of the areas with problems have been taken into consideration and it cannot be argued that the government is spreading themselves too thin or that there shall be challenges during the execution of the projects. The union budget has in a whole looked into all the matters in detail that had been a matter of concern and also executed or planned the budget in a way that all the sectors are satisfied.
The author is the chief executive officer of financial services, Aditya Birla Group.
Source: Mint
